Question 19D Chapter 8 of +2 Part-1 - USHA Publication 12 Class Part

Question 19D Chapter 8 of +2 Part-1 – USHA

Table of Contents

The solution of Question 19D Chapter 8 of +2 Part-1 – USHA: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

19 D. C limited invited applications for 6,000 shares of 100 each payables as follows. On application 30 On allotment 20 On first and last demand 50 All the shares were applied for and allotted. One shareholder holding 200 share paid the whole of the amount due along with allotment. Another shareholder did not pay the allotment money on his 300 share but which he paid with the first and the past last evil. Directors have decided to charge and allow interest, as the case may be, on calls in arrears and call in advance respectively according to the provision of Table F, There is a gap between allotment and call money of two months. Journalise the transactions.

The solution of Question 19D Chapter 8 of +2 Part-1 – USHA: –

Journal
Date	Particulars		L.F.	Debit	Credit
a)	Bank A/c	Dr.		1,80,000
	To Share Application A/c				1,80,000
	(Being application money received on)

b)	Share Application A/c	Dr.		1,80,000
	To Share capital A/c				1,80,000
	(Being application money transferred to Share cap. A/c)

c)	Share Allotment A/c	Dr.		1,20,000
	To Share capital A/c				1,20,000
	(Being allotment money due on 7,000 share @ Rs.25 each )

d)	Bank A/c	Dr.		1,24,000
	Calls in arrears (300 X 20)	Dr.		6,000
	To Share allotment A/c				1,40,000
	To Calls in advance A/c				10,000
	(Being allotment money real)

e)	Share first & final Call A/c	Dr.		3,00,000
	To Share capital A/c				3,00,000
	(Being final call due )

f)	Bank A/c	Dr.		2,96,000
	Calls in advance A/c	Dr.		10,000
	To Share first & final Call A/c				3,00,000
	To call in advance				6,000
	(Being call money received)

g)	Interest on Call in advance A/c	Dr.		200
	To Bank A/c				200
	(Being amt. paid call in advance )

h)	Bank A/c	Dr.		100
	To Interest on Call in arrears A/c				100
	(Being amt. received call in advance )